The proposed amendments to the Housing Development (Control and Licensing) Act 1966 (Act 118) is expected to be tabled in Parliament in the third quarter of 2022, in an effort to address issues concerning abandoned housing projects and prevent such problems in the future.

Housing and Local Government Minister Datuk Seri Reezal Merican Naina Merican said the move to amend the Act is in line with the country’s housing development direction and the adoption of the Build-Then-Sell (BTS) concept.

He said among the proposed amendments is that the Sales and Purchase Agreement (SPA) payment under Schedule G and H will be more similar to the BTS concept involving an advance payment of 40%, while the remaining amount is to be paid after the buyer receives the vacant possession notice, supported by the Certificate of Completion and Compliance (CCC) from the developer.

“The payment claim by the developer will be deducted 5%. For example, if the claim is 40%, then the buyer will only have to pay 35%. The remaining amount will be made after the project gets the CCC.

“This is to prevent (the developer) from making claims that do not match the certified work,” he said during the question and answer session at the Dewan Rakyat on Thursday (Nov 11).

He was replying to a question from William Leong Jee Keen (PH-Selayang), who wanted to know whether the government would adopt the BTS 10:90 concept to address the problem of abandoned housing projects.

Under the BTS 10:90 concept, buyers are required to make a 10% downpayment of the property’s purchase price, while the remaining 90% can be paid when the house is ready.

Reezal Merican said with the amendment of the Act, the government is of the view that the adoption of the BTS concept in the country’s real estate industry can be implemented comprehensively after 2023.

Source: EdgeProp.my

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Crown Penang, a joint venture serviced residence development between Ivory Properties Group and Chin Hin Group Property Berhad at Seri Tanjung Pinang. Strategically located near Jalan Seri Tanjung Pinang, on a 2-acre land between The Tamarind executive apartment and Marinox Sky Villas condominium. It is just a stone’s throw away from Gurney Drive and Straits Quay, with an unobstructed panoramic view of the man-made island of STP2.

This development will see the construction of a 40-storey building, comprising 30 levels of serviced suites and 8 levels of car parking podium.

Project Name : Crown Penang
Location : Seri Tanjung Pinang, Tanjung Tokong
Property Type : Serviced residence
Tenure: (to be confirmed)
Built-up Size: 614 sq ft to 1,851 sq ft
Total Units : 588
Indicative Price: RM704,000 onwards
Developer : Ivory Properties Group & Chin Hin Group Property Berhad

The Malaysian Institute of Estate Agents (MIEA) has issued a statement condemning disparaging words uttered by a real estate negotiator and another individual from Penang against Grab drivers and Grab food riders.

In a video posted on social media two days ago, both individuals were seen to be conducting a drive to recruit real estate agents.

However, it went awry when the Mandarin-speaking duo started to insult Grab drivers and food riders, saying that they will never end up rich, triggering negative responses from netizens.

In the video, after stating that they “do not mean to talk bad about Grab riders”, the duo proceeded to say that Grab drivers and Grab food riders will never get rich, before proceeding to laugh at those who chose the career path.

MIEA CEO K. Soma Sundram, told The Vibes that the man who made the statement must take responsibility for what he said as many were angered by his remarks in the video.

“Many are upset with the real estate agents, despite us working hard to deliver the best services, and many of us are not as successful as him.

“He has set a very bad example and has dented efforts to ensure that real estate negotiators are professionals.

“He has destroyed all the hard work that we have been doing. The trust levels have gone down,” he said.

Malaysia, he said, thrives because of the various service industries at all levels, and disrespecting those who are part of those services is also disrespecting the profession.

“Under MIEA’s practice standards, we always promote that all agents are to serve the public with dignity, respect, professionalism and more so to take care of the public’s interest.”

He stressed that having big cars and lots of money is not only a measure of success but being a human being filled with good values and integrity.

Soma added that the individual’s irresponsible statement is not reflective of the respect MIEA has for all Grab drivers and Grab food riders.

Source: TheVibes.com

Pulau Gazumbo, the man-made island next to the first Penang bridge, will be made a marine sanctuary by the state government.

Chief Minister Chow Kon Yeow said the state government will be working to gazette the island as a sanctuary, to be called the “Middle Bank Marine Sanctuary”.

He said environment committee chairman Phee Boon Poh had been picked to lead a team to look into various issues, including the proposed gazettement.

“I hope they will complete their first phase of work as soon as possible for us to make a further announcement on the marine sanctuary,” Chow said at the launch of a website for “Penang 2030 Phase 2: Accelerating Penang 2030” last week.

Universiti Sains Malaysia’s Centre for Marine and Coastal Studies (Cemacs) director Aileen Tan, who was present at the launch, said the marine sanctuary was a good idea, in terms of protecting the environment and creating a green lung for George Town.

“This marine sanctuary can become an education and awareness hub for the state government,” Tan said, adding that Cemacs would be providing expert support to the state government to gazette the island.

Pulau Gazumbo, created during the construction of the bridge, is also the site of the largest seagrass meadow in the Straits of Melaka, known as Middle Bank (Tebing Tengah).

It consists of a wide variety of marine life ranging from shellfish such as horseshoe crab to marine algae, and is also a feeding ground for many marine creatures.

At the event, the chief executive officer of Digital Penang, Tony Yeoh, announced the setting up of “Creative Digital District (CD²)@George Town”, an initiative to digitalise the state’s economy by transforming the city into a digital hub that will attract digital start-ups and companies.

Source: FreeMalaysiaToday.com